RISHI Sunak has today unveiled a £150 council tax discount for 28million households to help ease the cost of living squeeze.
The Chancellor laid out details of a huge £9billion bumper package to offset soaring energy bills, interest rates and taxes.
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He will bung £3.6billion to town halls to give everyone in bands A-D a £150 rebate on their council tax, covering four out of five homes.
Mr Sunak will also give every household a £200 refund on energy bills by underwriting £5.5billion of state-backed loans from October.
Suppliers will hand the money to customers, who will gradually pay back the cash in £40 instalments from 2023 over the next five years.
Ofgem today raised the energy price cap by £693 to £1,971 to stop more providers going bust – sending bills for hard-up families rocketing.
Despite the cash-splash Mr Sunak leaves himself exposed to accusations the reprieves are a mere sticking plaster for Brits bracing for crippling tax hikes.
The £150 council tax cut will not even cover the average £225 rise in National Insurance due to kick in this April.
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It means most Brits are still going to be worse off, despite the bumper package of help revealed.
Labour’s shadow chancellor Rachel Reeves scoffed at the package and said it was “giving with one hand and taking it all back later”.
But Mr Sunak told MPs: “Right now, I know the number one issue on people’s minds is the rising cost of living.
“That’s why the Government is stepping in with direct support that will help around 28 million households with their rising energy costs over the next year.
“We stood behind British people and businesses throughout the pandemic and it’s right we continue to do that as our economy recovers in the months ahead.”
Squeezed Brits are facing a brutal “Black Thursday” of price rises hitting millions of families.
The cost of living has now reached a 30-year high, with families facing paying out up to £3,000 a year more for everyday essentials including food, fuel, household bills and clothing.
Soaring inflation is adding £180 a year to grocery bills and soaring crude oil prices are pushing up prices at the pumps.
Energy watchdog Ofgem was forced to bring forward its planned price cap rise on gas and electric bills as Boris Johnson’s Government scrambles to move on from the Partygate saga.
Suppliers will be allowed to hike the basic tariff for 22 million households, meaning families are set for huge increases in bills.
Experts last night predicted capped energy tariffs will shoot up by around 50 per cent to £1,915 for the typical customer as a result of today’s announcement.
Another rise is expected in autumn when the price cap is likely to go up yet again.
